The euro advanced on Draghi’s talk of reflation. The pound took advantage of Carney’s change of mind. The Canadian dollar took advantage of higher oil prices and previous hawkishness from the BOC. But the rest of the currencies did not go anywhere fast. AUD/USD was very cautious, taking one step forward, one step backward. And most importantly, the dollar gained ground against the yen. So perhaps this was a “risk on” move of sorts. Not anymore – the dollar is falling everywhere The US dollar is now lower across the board. It does not have anywhere to hide. USD/JPY dropped from the highs of nearly 113 to just under 112. AUD/USD is flirting with 0.77 and the currencies that already made gains are not letting go. EUR/USD is settling above the Brexit high of 1.1425 and has already reached new highs. GBP/USD is around 1.30 despite all its problems and USD/CAD is taking the 1.30 quite seriously. More dollar drops or is it about to turn? Can this continue on and on? With the Japanese yen also jumping in to take advantage of the dollar’s demise, perhaps another round of gains is possible for the leading currencies. Or perhaps the drop in USD/JPY is not the “smart money”. It may be the last move and could mark the turnaround. The yen could now enjoy safe-haven flows and gain against the dollar while the greenback is retreating elsewhere. What do you think? Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next UK GDP confirmed at 0.2% – GBP/USD hugs 1.30 Yohay Elam 6 years The euro advanced on Draghi's talk of reflation. The pound took advantage of Carney's change of mind. The Canadian dollar took advantage of higher oil prices and previous hawkishness from the BOC. But the rest of the currencies did not go anywhere fast. AUD/USD was very cautious, taking one step forward, one step backward. And most importantly, the dollar gained ground against the yen. So perhaps this was a "risk on" move of sorts. Not anymore - the dollar is falling everywhere The US dollar is now lower across the board. It does not have anywhere to hide. USD/JPY dropped… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
